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Central bank quashes talk of change to exchange rate policy

Nigeria’s central bank said it made no change to its naira policies, after a revision on its website led some analysts to speculate that it was ending a system of multiple exchange rates.
Wang Shouwen

China says working with US on trade deal

China and the U.S. are still working to achieve a trade deal that matches the interests of both sides and the hopes of the world, including eliminating tit-for-tat tariffs, an official said on Saturday.

Naira down to N362.03 to the dollar in I&E window

The Naira yesterday depreciated to N362.03 per dollar in the Investors and Exporters (I&E) window.
President Muhammadu Buhari, who was on campaign trail to Lagos on Saturday, said his administration’s economic policies have been making the desired impact as evidenced by steady growth in the economy in the last three years.-15

President Buhari: Our economic policies making desired impact

President Muhammadu Buhari, who was on campaign trail to Lagos on Saturday, said his administration’s economic policies have been making the desired impact as evidenced by steady growth in the economy in the last three years.
The port of Douala on the Atlantic Coast of Cameroon, Jan. 10, 2018, is the nearest seaport for Chad and the Central African Republic.

Chad, CAR threaten to abandon Cameroon port over alleged corruption

Landlocked Chad and the Central African Republic have dispatched senior customs officials to Cameroon to look into allegations of corruption in the Atlantic Coast port of Douala.

Central bank spends $20.91 billion in six months to defend naira

Within a space of six months this year, the Central Bank of Nigeria (CBN) has so far expended about $20.91 billion to stabilise the naira at the various segments of the foreign exchange (forex) market.

Federal government moves to pay oil marketers

The Federal Government has commenced the process of paying oil marketers the arrears it owes the marketers.

DMO begins payment of arrears to oil marketers through promissory notes

The Debt Management Office (DMO), says it has commenced the accelerated implementation of settlement of government arrears through promissory notes to oil marketers.
china yuan dollar

China’s trade surplus with US hits $28 billion

China’s trade surplus with the United States swelled to a record in June as its overall exports grew at a solid pace, a result that could further inflame a bitter trade dispute with Washington.
ATM

Banks review ATM cash withdrawal overseas

Guaranty Trust Bank (GTBank) and First City Monument Bank (FCMB), it said, at the weekend raised their monthly card spending limit on overseas PoS and online transactions from $1,000 to $3,000 and around $2,000 to $5,000.

Foreign airlines: Lagos airport most expensive in the world

Foreign airlines operating in Nigeria saturday described the Murtala Muhammed International Airport (MMIA), Lagos as the most expensive airport in the world, attributing it to high and multiple charges the government agencies in the aviation industry have been billing them.

Turnover in fixed income, currency markets hits N14.3 trillion in May

Transaction turnover in the Fixed Income and Currency (FIC) markets for the month of May amounted to N14.30trillion, a 4.30 percent (N0.64trn) decrease from the value recorded in April and a 50.60 percent (N4.80trn) increase Year on Year.

ABCON chief warns of looming election-induced capital flight

Ahead of the 2019 general elections, the President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, has warned of a possible capital flight.

NEXIM bank challenges Edo exporters on N50 billion fund

The Nigerian Export Import Bank (NEXIM) has urged Exporters in Edo state to make effort and access the N50 billion Export Development Fund (EDF) to boost the non-oil revenue in the state. Managing Director of NEXIM, Abba Bello, disclosed this in a statement signed by Tayo Omidiji, Head, Strategy and Communications, in Abuja, on Wednesday.

NAQS re-enforces packaging standards for imports and exports.

The Nigeria Agricultural Quarantine Service says it is re-enforcing the use of Solid Wood Packaging Materials such as crates, boxes, dunnages for containerised cargoes imported into the country.

Afreximbank urges enterprises to engage factoring to solve cash flow difficulties

The African Export-Import Bank (Afreximbank) has urged African enterprises to make use of factoring to take advantage of the opportunities for expanding the continent’s regional value chains.

Take time to study records of President Buhari’s achievement before criticising – Presidency tells...

The Presidency has appealed to former Speaker of the House of Representatives, Ghali Na’Abba, to take a second look at Muhammadu Buhari administration’s achievements since its inception on May 29, 2015.

Tokyo opens lower after US stocks see first drop of 2018

Tokyo stocks opened lower on Thursday after Wall Street fell for the first time in 2018 the previous day, while a strong yen weighed on sentiment.

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Central bank quashes talk of change to exchange rate policy

Nigeria’s central bank said it made no change to its naira policies, after a revision on its website led some analysts to speculate that it was ending a system of multiple exchange rates.
Roberto Carlos has expressed his sympathy at Lionel Messi's struggles to replicate the success he has achieved with Barcelona on the international stage with Argentina.

Roberto Carlos: Lionel Messi doesn’t have the same luck with Argentina as he does...

Roberto Carlos has expressed his sympathy at Lionel Messi's struggles to replicate the success he has achieved with Barcelona on the international stage with Argentina.
Seyi Makinde

Governor Makinde: Olu Falae’s kidnap experience will not happen in Oyo

Following calls for better security measures to tackle the spate of kidnappings across the country, especially in the Southwest region, Oyo State Governor Seyi Makinde has assured the people of the State that the experience of the revered former Secretary to the federation and Afenifere leader, Chief Olu Falae, in the hands of bandits at his farm in Ondo State would not repeat itself in Oyo State.

15 police officers in detention over extortion

The leadership of the Abia State Police Command says it has arrested 15 police personnel under its command for allegedly extorting money from motorists and other members of the public.